The key can be updated by 

sudo apt-key adv --keyserver keyserver.ubuntu.com --recv-keys <key_here>

so in this case, it is: 
sudo apt-key adv --keyserver keyserver.ubuntu.com --recv-keys 69464050

output:

Executing: /tmp/tmp.npHxd5p5mh/gpg.1.sh --keyserver
keyserver.ubuntu.com
--recv-keys
69464050
gpg: requesting key 69464050 from hkp server keyserver.ubuntu.com
gpg: key 69464050: "edX Inc. (edX PPA) <[email protected]>" 2 new signatures
gpg: Total number processed: 1
gpg:         new signatures: 2






On Thursday, December 29, 2016 at 1:13:46 AM UTC+5, Bastiaan Franssen wrote:
>
> Hi everybody,
>
> Hope you've had great holidays! Since this week, I'm getting an error when 
> I'm typing in the following command in terminal on ubuntu 12.04 
>
> sudo apt-get update -y
>
> This is the error message I receive in the terminal:
> W: GPG error: http://ppa.edx.org precise Release: The following 
> signatures were invalid: KEYEXPIRED 1481833680 KEYEXPIRED 1481833680 
> KEYEXPIRED 1481833680
>
> Does anyone have an idea how to fix this?
>

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